TY - GEN A1 - Baumgärtner, Stefan A1 - Jöst, Frank A1 - Winkler, Ralph T1 - Optimal dynamic scale and structure of a multi-pollution economy N2 - We analyze the optimal dynamic scale and structure of a two-sectoreconomy, where each sector produces one consumption good and one specific pollutant. Both pollutants accumulate at di_erent rates to stocks which damage the natural environment. This acts as a dynamic driving force for the economy. Our analysis shows that along the optimal time-path (i) the overall scale of economic activity may be less than maximal; (ii) the time scale of economic dynamics (change of scale and structure) is mainly determined by the lifetime of pollutants, their harmfulness and the discount rate; and (iii) the optimal control of economic scale and structure may be non-monotonic. These results raise important questions about the optimal design of environmental policies. KW - Ökonomie KW - Ökologie KW - Emission KW - Wertpapieremission KW - dynamic economy-environment interaction KW - multi-pollutant emissions KW - non-monotonic control KW - optimal scale KW - stock pollution Y1 - 2007 UR - http://pub-data.leuphana.de/frontdoor/index/index/docId/508 ER -